Simulation Week4 - Perceptual mapping is an exceptional...

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Perceptual mapping is an exceptional resource that marketing managers use to understand the correlation between competitors, changing marketplace conditions, the principles that influence consumers purchasing behaviors, and can help an organization maintain an advantage over its competitors. This distinctive style of market analysis illustrates a product or service’s market position in relation to subject, target market, price, design, competition, and lifestyle. This dissertation will illustrate the situation for each phase of the simulation. Next it intends to describe the recommended solutions and reasons for those recommendations. Last, this paper will discuss the various marketing components used in the simulation and answer the following questions: 1.) what is the connection between the delineation and positioning of products and services and is the positioning of a product or service different from what I expected. 2.) How does the product life cycle affect the marketing and how did it affect the proposed product in the simulation? Situation One: The Thorr motorcycle CruiserThorr is suffering from depleting sale in a thriving market. The target market of 35-50 has either out-grown the image of Thorr. The 21-35 target audience prefers cheaper motorcycles because they lack the disposable incomes to afford the luxury of a $28,000 CruiserThorr. CruiserThorr is a higher0upper segment image with a superior designed engine costing around $25,800 with limited services. The Anzia has a durable engine, fun and younger segment, costs $14,300 and provides support to dealers. The Espiritque has the best cooled engine, is
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targeted to the lower safe margins, costs around $17,600 and has a wide range of support and services. Motorcycle users, 320 men ages 20-50, were asked to rate the three bikes on a scale of 1 (worst) to 10 (best) on lifestyle image, product design and styling, cool, product uniqueness, service offering, price, engine capacity, safety and quality of engineering. The CruiserThorr has higher lifestyle ratings, product and design, and highest quality engineering ratings. As for price,
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Simulation Week4 - Perceptual mapping is an exceptional...

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